Lower electricity prices in 2015

PowerlinePowerline. Photo Norway Today Media

The average price of electricity for households in 2015, excluding taxes and grid rent, was 26.7 øre per kWh. This is 13 per cent lower than in 2014 and the lowest price since 2005.

The low electricity price may be seen in conjunction with increased power production due to large inflow of water to the reservoirs and record warm temperatures in 2014.

The overall average price of electricity for households, including grid rent and taxes, amounted to 80.9 øre per kWh in 2015. This is 3.3 per cent lower compared to 2014. The electricity price was 26.7 øre per kWh, and the grid rent and taxes came to 26.2 and 28.1 øre per kWh respectively.

Spot contracts cheapest
Households tied to spot price contracts paid 24.5 øre per kWh on average, excluding grid rent and taxes in 2015, while the price of variable price contracts amounted to 31.3 øre per kWh. New fixed-price contracts lasting one year or less and fixed-price contracts lasting one year or more totaled 32.6 and 32.0 øre per kWh respectively. Other fixed-price contracts amounted to 33 øre per kWh.

Lower elspot prices for service industries and manufacturing
For service industries the price excluding grid rent and taxes decreased by 15 per cent to 24.7 øre per kWh in 2015. For manufacturing excluding power-intensive manufacturing, the elspot price amounted to 23.2 øre per Kwh. This is 16 per cent lower than in 2014.

Most of the electricity sold to power-intensive manufacturing is sold through fixed-price contracts. The average price of electricity excluding taxes and grid rent was 30.9 per cent, a 4.7 per cent increase compared to 2014.

 

Source: SSB / Norway Today

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